Depeche Mode Continue to Reign but Fast Fashion Stores are up for sale
Depeche Mode released their 14th studio album “Spirit” and after 37 years still have a huge loyal rabid fans, make music that is current and in touch with the times and are as energetic as ever. They have had their ups and downs but never lost a sense of who they are. Their name came from a French fashion magazine and the rest is history.
Fast Fashion is going out of style
Fast Fashion – (Depeche Mode in French) is not so fortunate to weather the storms of the iconic band. Fast Fashion seems to be going out of style with more retailers shutting down stores, closing down sales and getting bought out by marketplaces.
Fast Fashion Stores in more than financial trouble
Nasty Gal was given CPR by online retailer Boohoo It filed for Chapter 11 bankruptcy protection on Nov. 9, 2016 to secure financial relief while it restructures. This has given the current owners and past owners headaches as customers are complaining that Nasty Gal stole their money.
Modcloth was bought out by Walmart in an attempt to help satisfy the investors while the company was loosing money. Their marketing costs skyrocketed in an attempt to attract a new audience as many came, bought and left with no repeat business. The buyout helps Walmart to acquire a new fresh customer base and brand but the Modcloth clients are to say the least not happy. What was good for investors will be bad for the company as a whole.
BCBG filed for bankruptcy protection but also now will be engaged in a lawsuit BCBG Max Azria Group Holdings LLC and his wife have sued the fashion house, saying she was illegally terminated as the fashion company’s creative officer after it filed for bankruptcy.
Forever 21 is being accused of not paying vendors on time or in full. The once darling retail store chain has helped to secure its own demise with growth and retail stores in malls. The expansion plan seems indeed too much for the company that has helped to build an empire on Fast Fashion and put many of its competitors out of business.
Fashion Retailers Closing Sales
- Aeropostale: 154 stores closing
- Ralph Lauren: Closing at least 50 stores
- JCPenney – 138 stores
- Macy’s – 68 stores
- Sears & Kmart – 150 stores
- Abercrombie & Fitch – 60 stores
- Guess – 60 stores
- American Apparel – 110 stores
- BCBG – 120 stores
The tide has shifted. The mall is no longer a place to see the masses. Fashion stores are left with huge warehouses of inventory that cannot be sold. The American mall is quickly going out of style. Sears and Macy’s the corner stone of the mall will soon be out of business or closing their lavish stores to help reset costs.
Retail space in malls will soon be going cheap as the traffic of eager buyers shop online on Amazon and spend more time on their apps in coffee stores than spending hours walking around malls.